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Huadian Ener-B (900937) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Huadian Ener-B $0.46, price $0.20, upside +130.0%, quality 39 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
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Utilities · CN · ISIN CNE000000K58

HE Thin data Sep 24, 2026

Huadian Ener-B

900937 · SHG

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

Fair value $0.4600 · Strongly undervalued (+130%)
!Quality 39/100
!Weak Growth (revenue 5y +9.3 %/yr)
!Thin margins · 2.0% net margin (TTM)
!High debt · generates free cash flow
Ranks above peers (9/14)
!Narrow moat 42/100
!Evidence only low, so the estimate is less certain
!Weak on balance sheet: 13 out of 100

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$0.2580 $0.1180 Fair Value $0.4600 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range $0.1180 – $0.2580 · fair‑value band $0.3700 – $0.6000 · the $0.2000 price screens below the $0.4600 fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Huadian Energy Company Limited engages in the generation and sale of electric power in China. The company generates electric power through thermal sources, as well as provides heat services. It also involved in coal production and sales business. It has an installed capacity of 25.7693 million kilowatts of thermal power.

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Huadian Energy Company Limited engages in the generation and sale of electric power in China. The company generates electric power through thermal sources, as well as provides heat services. It also involved in coal production and sales business. It has an installed capacity of 25.7693 million kilowatts of thermal power. The company was formerly known as Heilongjiang Electric Power Co. Ltd. and changed its name to Huadian Energy Company Limited in July 2004. Huadian Energy Company Limited was founded in 1993 and is based in Harbin, China.

Stock analysis

Huadian Ener-B (900937) currently trades at $0.2000, while our model-based Fair Value estimate is $0.4600, implying the stock looks roughly 56.5% undervalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of $2.17 per share, and 23 of the 24 models we run sit above the $0.2000 price.

Bear case: the Asset-Based group reads lowest at $0.3500, and 1 of the 24 models stay below the price. Evidence for this calculation is low.

Scenario range: $0.3700 (bear) to $0.6000 (bull), the price of $0.2000 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 39/100 (below-average quality), in the Utilities sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Huadian Ener-B reported revenue of 16.7B CNY in FY2025 versus 9.8B CNY in FY2021, a compound +14.2%/yr. Reported net income was 200M CNY in FY2025.

Key figures

Market cap $1.6B · P/E ratio 21.5 · P/S ratio 0.26 · EPS (TTM) $0.0100 · Net margin 1.2% · Return on equity 14.1% · Return on assets (EBIT) 4.7% · Operating margin 22.2%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).

What moves the price

The share trades about 22% below its 52-week high and 31% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Utilities peers we cover trades at −48% fair-value upside, at 130%, 900937 screens cheaper than that median.

Fair Value models

Bear $0.3700 Fair Value $0.4600 Bull $0.6000
Model Each model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($0.0073 per share) are deliberately not added. Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence Evidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF $1.16 $1.78 $2.58 78
Growth DCF $1.18 $1.74 $2.41 76
EPV $1.36 $1.61 $1.81 74
All 24 models by family
DCF Models
FCF DCF $1.16 $1.78 $2.58 78
5Y Revenue Exit $1.48 $2.57 $3.94 69
5Y EBITDA Exit $2.05 $3.60 $5.38 72
5Y P/E Exit $0.3900 $0.5900 $0.7900 69
10Y Revenue Exit $1.27 $2.17 $3.32 64
10Y EBITDA Exit $1.65 $2.81 $4.29 65
10Y P/E Exit $0.7000 $0.9300 $1.19 63
Earnings-Based
Graham-Dodd $0.1700 $0.4600 $0.6000 63
PEG = 1.0 $0.0900 $0.1300 $0.1600 55
EPV $1.36 $1.61 $1.81 74
Dividend Discount
Gordon GGM $0.4100 $0.7400 $1.02 65
DDM Multi-Stage $0.4100 $0.6000 $0.7700 65
Multiples
P/E Multiple $0.3400 $0.4600 $0.5700 63
P/S Multiple $0.3200 $0.4300 $0.5400 58
P/B Multiple $0.3200 $0.4300 $0.5400 55
EV/EBIT $2.38 $3.32 $4.26 66
EV/EBITDA $3.10 $4.28 $5.46 67
EV/Revenue $1.84 $2.82 $3.80 53
Asset-Based
NCAV (Graham) $0.2600 $0.3500 $0.5200 54
Growth DCF
Growth DCF $1.18 $1.74 $2.41 76
Rev-Margin DCF $1.48 $2.58 $3.80 69
Economic Profit
Residual Income $0.3800 $0.3800 $0.3400 74
ROIC Compounder $1.44 $1.80 $2.18 70
Growth Earnings
Growth-Adj P/E $0.2700 $0.3900 $0.5000 65

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Quality Score breakdown

Overall quality 39/100

Of which business quality 38 · Market factors (momentum, volatility) 56

Profitability 24
Margins and returns on capital today
Quality Growth 41
Are margins and returns improving?
Cashflow 54
Earnings quality: real cash, not paper profit
Fin. Strength 13
Balance sheet, leverage, solvency risk
Investment 59
Disciplined investing over empire-building
Low Volatility 76
Calm price path (market factor)
Momentum 48
Price trend over the last 3–12 months (market factor)
52W Momentum 48
Distance to the 52-week high (market factor)
Net Issuance 52
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality Growth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−8.2%
Revenue growth 3 years Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−4.1%
Revenue growth 5 years Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.3%
Start year 2020 (pandemic). Over 10 years: +6.1% a year
Revenue growth 10 years Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.1%
What shareholders gained per year (last 5 years) What the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+26.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+26.9%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−3% → 12%

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Peer GroupHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Utilities - Independent Power Producers · 76 stocks

Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 39 · Bottom 25%
Fair Value upside +130% · Top 25%
Profitability
Return on equity (TTM) 14% · Top 25%
Return on assets 4% · Above median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 22% · Above median
Growth and dividend
Revenue growth −3% · Above median
Dividend yield (TTM) 24.5% · Top 25%
Balance sheet
Debt / equity 1.74× · Highest 25%

Valuation Multiplesvs Utilities - Independent Power Producers median · lower = cheaper

P/E (TTM) 21.5× · Pricier than median
P/B 0.38× · Cheapest 25%
P/S (TTM) 0.10× · Cheapest 25%
P/FCF 1.8× · Pricier than median
EV/EBITDA 1.4× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 32
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)57 · sector 29
HEALTH (low debt)13 · sector 71
DIVIDEND (yield)100 · sector 61

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Utilities - Independent Power Producers stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Constellation Energy Corporation CEG $263.46 $91.77 −65%
Vistra Corp VST $140.41 $21.07 −85%
Adani Power Limited ADANIPOWER ₹204.80 ₹75.57 −63%
CGN Power Co 003816 ¥4.20 ¥2.19 −48%
NRG Energy, Inc NRG $102.75 $74.17 −28%
Gulf Development Public Company GULF 62.25 THB 68.48 THB +10%
Adani Energy Solutions Limited ADANIENSOL ₹1,380 ₹342.02 −75%
Datang International Power Generation Co 601991 ¥5.57 ¥4.95 −11%
Huaneng Power International, Inc 600011 ¥6.80 ¥12.20 +79%
The Tata Power Company TATAPOWER ₹369.00 ₹175.12 −53%

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Cite: Fair Value Calculator (2026). "Huadian Ener-B Fair Value". https://www.fairvalue-calculator.com/stock/900937

Frequently asked questions

Is Huadian Ener-B (900937) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $0.4600 versus a price of $0.2000, about +130% upside (undervalued).
What is the fair value of 900937?
Our model-based fair value for Huadian Ener-B is $0.4600 (as of Sep 24, 2026), built from audited fundamentals. The current price: $0.2000.
What is the quality score of 900937?
Huadian Ener-B has a Quality Score of 39/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Huadian Ener-B (900937)?
Our model-based price target is the fair value of $0.4600 (as of Sep 24, 2026) from 24 valuation models. Cautious scenario $0.3700, optimistic scenario $0.6000. It is a calculation from audited fundamentals, not an analyst target.
What is the Huadian Ener-B stock forecast for 2026?
Our models put fair value at $0.4600, about +130% upside versus a price of $0.2000 (undervalued). Cautious scenario $0.3700, optimistic scenario $0.6000. The calculation is refreshed regularly with new filings.
What is the revenue of Huadian Ener-B (900937)?
Huadian Ener-B reported trailing-twelve-month revenue of about $16.5B (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Huadian Ener-B (900937)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Huadian Ener-B it is $0.4600 per share (as of Sep 24, 2026), against a price of $0.2000. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Huadian Ener-B stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 900937 trades below its calculated fair value: price $0.2000, fair value $0.4600, a gap of about +130% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 900937?
No. The price is what the market pays today ($0.2000); the fair value is what the company's own numbers justify ($0.4600). For Huadian Ener-B the two are $0.2600 per share apart. That gap is exactly why we show both numbers side by side.
How much is Huadian Ener-B worth?
The market values Huadian Ener-B at about $1.6B (market capitalisation, as of Sep 24, 2026). Per share that is $0.2000; our models calculate a fair value of $0.4600 per share.
What do the bullish and bearish scenarios say about 900937?
Our models span a range for Huadian Ener-B: cautious scenario $0.3700, base $0.4600, optimistic $0.6000 per share (as of Sep 24, 2026, price $0.2000). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 900937?
Huadian Ener-B trades at a price-to-earnings ratio of 21.5 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $0.4600 is built from several models across several years. Other multiples: P/B 0.4, P/S 0.1, EV/EBITDA 1.4.
How solid is the balance sheet of Huadian Ener-B (900937)?
Balance-sheet figures for Huadian Ener-B (as of Sep 24, 2026): return on equity 14.1%, debt of 1.74 per unit of equity. They feed the Quality Score of 39/100, which measures business quality independently of the share price.
How far is 900937 from its 52-week high?
Huadian Ener-B trades at $0.2000, about 22% below its 52-week high of $0.2580 and 31% above the low of $0.1530 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $0.4600 is for.
Which stocks are comparable to Huadian Ener-B?
From the same area (Utilities) we also value Constellation Energy Corporation, Vistra Corp, Adani Power Limited, CGN Power Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Huadian Ener-B stock attractive at the current price?
The data as of Sep 24, 2026: price $0.2000, calculated fair value $0.4600 (+130%), Quality Score 39/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 900937 calculated?
We run Huadian Ener-B through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $0.4600, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Huadian Ener-B currently trades 130 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Huadian Ener-B (900937)?
The closing price on Sep 23, 2026 was $0.2000. Our model-based fair value is $0.4600, about +130% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Huadian Ener-B right now?
The large discount to fair value meets weak quality (39/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case ($0.3700). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Huadian Ener-B

How large is the market capitalisation of Huadian Ener-B (900937)?
The market capitalisation of Huadian Ener-B is $1.6B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Huadian Ener-B (900937)?
The price-to-sales ratio of Huadian Ener-B is 0.26 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Huadian Ener-B (900937)?
Earnings per share at Huadian Ener-B are $0.0100 (price ÷ EPS = P/E 21.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Huadian Ener-B (900937)?
The net margin of Huadian Ener-B is 1.2% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Huadian Ener-B (900937)?
The return on equity (ROE) of Huadian Ener-B is 14.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Huadian Ener-B (900937)?
On an EBIT basis the return on assets of Huadian Ener-B is 4.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Huadian Ener-B (900937)?
The operating margin of Huadian Ener-B is 22.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Huadian Ener-B (900937)?
Revenue at Huadian Ener-B is growing −2.9% versus a year earlier (3y avg −4.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Huadian Ener-B (900937)?
Earnings per share at Huadian Ener-B are growing +33.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Huadian Ener-B (900937) generate?
The free cash flow of Huadian Ener-B is $882M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Huadian Ener-B (900937) carry?
The net debt of Huadian Ener-B is $8.8B (fiscal year 2025, ≈ 10.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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